Hong Kong's Exports, Imports Fall

Updated June 27, 2002 5:24 a.m. ET

Hong Kong's exports and imports fell in May, surprising economists who expected the gradual recovery signaled in recent months to continue. Exports fell 1.8% to 125.9 billion Hong Kong dollars, instead of rising the expected 5.0%. Imports fell 2.1% to HK$133.3 billion instead of the 2.0% rise forecast by a Dow Jones Newswires survey of seven economists. Instead of the mild trade deficit of HK$3.7 billion expected in the survey, May's result was double the forecast at HK$7.4 billion. In April, exports rose 2.5% on the year while imports fell 2.1%, with a trade deficit of HK$7.28 billion. The government attributed...